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JHL Biotech and Sanofi collaborate on the development and commercialization of biological therapeutics in China.
JHL Biotech and Sanofi announced on Dec. 5, 2016 their plans to collaborate on the development and commercialization of biological therapeutics in China. The agreement includes the potential for international expansion.
Sanofi will invest $80 million in JHL shares at $90 per share. Sanofi will also make an upfront payment of $21 million to acquire exclusive rights for the proposed biosimilar of rituximab and options to certain JHL pipeline products. JHL will lead development, registration, and manufacturing activities while Sanofi will lead commercialization efforts in China. JHL is entitled to receive milestones of up to $236 million and sales royalties.
Source: JHL Biotech